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INPEX to Support Rimba Raya REDD+ Project in Indonesia

Source: www.gulfoilandgas.com 2/22/2021, Location: Asia

INPEX CORPORATION (INPEX) announced that it has entered into an agreement with conservation firm InfiniteEARTH to acquire five million tons worth of carbon credits*1 over five years by supporting the Rimba Raya Biodiversity Reserve REDD+*2 Project (hereinafter “the Project”).

InfiniteEARTH conducts forest conservation activities to improve living standards for local communities as well as promoting orangutan conservation programs through the Project, which the company is managing in the Central Kalimantan province of Indonesia since 2008. The project generates carbon credits*2 verified under international standards from CO2 absoption through forest conservation activities.

In September 2020, the Project became the world’s first to be officially recognized as contributing to all 17 SDGs under the SD Vista*3 standard. The Project earned positive assessments for its initiatives to improve the social infrastructure of local communities through employment, healthcare, education and access to clean water as well as safeguard biodiversity through orangutan conservation efforts, in addition to its forest conservation activities.

INPEX, as outlined in its “Business Development Strategy - Towards a Net Zero Carbon Society by 2050,” is committed to responding to climate change through CO2 absorption by way of forest conservation. The company will also aim to proactively support projects that can contribute to the safeguarding of invaluable biodiversity and improvement of living standards for local communities.

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